Riyadh – Mubasher: Najran Cement Company reported turning a profit of SAR 6.06 million in the first quarter of 2019, against net losses of around SAR 681,000 in the year-ago period.
The Saudi cement producer ascribed the positive turn in Q1-19 financials to higher sales volume, a drop in production cost per tonne, and a rise in other income, despite the decrease in price per tonne, according to a statement to the Saudi Stock Exchange (Tadawul) on Sunday.
As for Q4-18, Najran Cement reported losses of SAR 10.6 million.
For the full-year 2018, the company posted a 282% increase in losses to SAR 83.5 million, up from SAR 21.86 million a year ago.
